China has issued 1.1 billion RMB digital, the country's CBDC digital currency
Well guys, it seems that the Chinese are trying to take advantage in all spaces...
For the PboC, issuing its own digital currency is an effective way to protect and safeguard its monetary sovereignty
The deputy governor of the People's Bank of China announced the issuance of 1.1 billion RMB digital by the end of August, to carry out tests of the nation's CBDC digital currency.
Renminbi is the legal tender in China, also known by its unit, the yuan; For its part, the DCEP (Digital Coin Electronic Pay) is the digital currency issued by the central bank (CBDC), known as the “digital yuan”. DCEP is the CBDC digital currency that has the most advancements worldwide, in relation to its creation, development and issuance. While some countries are still arguing about the possibility of issuing their own digital currency, China is shown as the nation to possibly launch the first CBDC. In fact, the People's Bank of China (PboC) has been piloting its digital currency for several months; tests that take place in several major cities in the country together with large banking entities, such as Banco Agrícola, and technological giants such as Huawei and [JD.com](https://JD.com).